Aviva is
In
In
In accordance with the government regulations, Aviva holds a 26 per cent stake in the joint venture and the Dabur group holds the balance 74 per cent share.
With a strong sales force of over 28,000 Financial Planning Advisers (FPAs), Aviva has initiated an innovative and differentiated sales approach to the business. Through the “Financial Health Check” (FHC) Aviva’s sales force has been able to establish its credibility in the market. The FHC is a free service administered by the FPAs for a need-based analysis of the customer’s long-term savings and insurance needs. Depending on the life stage and earnings of the customer, the FHC assesses and recommends the right insurance product for them.
Aviva pioneered the concept of Bancassurance in
When Aviva entered the market, most companies were offering traditional life products. Aviva started by offering the more modern Unit Linked and Unitized With Profit products to the customers, creating a unique differentiation. Aviva’s products have been designed in a manner to provide customers flexibility, transparency, and value for money. It has been among the first companies to introduce the more modern Unit Linked products in the market. Its products include whole life (LifeLong), endowment (LifeSaver, EasyLife Plus, LifeSaver Plus), child policy (Young Achiever, SaveGuard Junior, Aviva Little Master) single premium (LifeBond and LifeBond Plus), Pension (PensionPlus), Term (LifeShield), fixed term protection plan (Freedom LifePlan) and a tax efficient investment plan with limited premium payment term (LifeBond5). Aviva products are modern and contemporary unitized products that offer unique customer benefits like flexibility to choose cover levels, indexation, and partial withdrawals.
Aviva’s Fund management operation is one of its key differentiators. Operating from Mumbai, Aviva has an experienced team of fund managers and the range of fund options includes Unitized With-Profits Fund and four Unit Linked funds: - Protector Fund, Secure Fund, Balanced Fund and Growth Fund.
Aviva has 176 Branches in
Aviva is also keen to reach out to the underprivileged that have not had access to insurance so far. Through its association with Basix (a micro financial institution) and other NGOs, it has been able to reach the weaker sections of the society and provide life insurance to them.
Grow Talent Company Limited and Businessworld have felicitated Aviva with the “Bronze Award for Excellence in People Management.” This honor is given to Aviva based on the ranks received in top 25 list of the
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